UAE – Mubasher: Pulsar Capital, a regional private equity firm focusing on the healthcare, e-commerce, and fintech sectors, recently acquired UAE-based TruDoc which is specialised in telehealth and virtual primary care services.
Through the takeover, Pulsar Capital aims to endorse its product offerings while fast-tracking its growth across South Asia, the GCC, and Africa, according to a press release.
Meanwhile, the investment enhances TruDoc's objective of redefining healthcare delivery and expanding its reach to benefit patients in multiple regions.
Pulsar Capital’s obtaining a controlling stake in TruDoc comes a year after the initial investment in 2022 which saw the private equity firm own minority equity before the recent larger investment in the company.
TruDoc, which was established in 2011, currently serves various areas such as the UAE, Saudi Arabia, Nigeria, and other parts of Africa. The company enables around-the-clock access to licensed telemedicine of approximately 1 million paid subscribers in the UAE and 2 million across the globe. This is in addition to its home care doctors, labs and diagnostics, e-pharmacy services, and customised wellness programmes.
Managing Partner of Pulsar Capital, Vish Narain, who also assumed the new role of Executive Chairman of TruDoc, said: “The acquisition of TruDoc represents our continued commitment to deliver quality care to patients with an emphasis on convenience, affordability and accessibility.”
Narain added: “Technology is going to significantly change the way primary care is going to be delivered. TruDoc has cutting-edge tools using the latest technology in electronic patient record management, home health, telemonitoring, wearables, and generative [artificial intelligence] AI which will benefit our payors and end-consumers.”